Asia Roundup: Marts extend losses on US weakness

25-Jan-2014 Intellasia | Business Times | Reuters | AFP | Bloomberg | AP | 8:58 AM Print This Post

Asian markets sank yesterday Friday January 24, extending the previous day’s losses after disappointment on Wall Street over data showing the first fall in Chinese manufacturing activity in six months.

Japan’s Nikkei share index suffered another bruising day after the yen rallied against the dollar as investors looked for safer investments.

Tokyo tumbled 1.94 per cent, or 304.33 points, to 15,391.56, Sydney fell 0.42 per cent, or 22.1 points, to 5,240.9 and Seoul ended 0.36 per cent lower, giving up 7.03 points to sit at 1,940.56.

In the meantime, Shanghai ended up 0.60 per cent, adding 12.21 points to 2,054.39.

Global markets were sent tumbling on Thursday after HSBC said a preliminary reading of its purchasing managers’ index (PMI) for China fell to 49.6 in January.

The index is a closely watched gauge of the health of the Asian economic powerhouse. A reading above 50 indicates growth, while anything below signals contraction. The last time the figure for China dropped below the critical point was in July, when it stood at 47.7.

HONGKONG: SHARES lost 1.25 per cent yesterday following a sell-off on Wall Street in response to data showing Chinese manufacturing activity contracted in January.
The Hang Seng Index in Hong Kong fell 283.84 points to 22,450.06 on turnover of HK$77.25 billion.
China Construction Bank lost 0.92 per cent to HK$5.40 while Bank of China fell 0.90 per cent to HK$3.31.
Industrial and Commercial Bank of China’s share price closed at HK$4.76, a decline of 1.04 per cent.

SINGAPORE: THE Straits Times Index (STI) ended the day’s trade 0.78 per cent lower at 3075.99 points yesterday.
The FTSE ST Mid Cap Index fell 0.67 per cent while the FTSE ST Small Cap Index lost 0.27 per cent.
Of the actives, DBS declined 1.01 per cent and Keppel Corp retreated by 1.84 per cent.
OCBC lost 0.73 per cent and CapitaLand depreciated by 1.39 per cent.
The outperforming sector, FTSE ST Telecommunications advanced 0.49 per cent. Of its two biggest stocks, SingTel gained 0.57 per cent and StarHub appreciated by 0.24 per cent.

KUALA LUMPUR: SHARE prices on Bursa Malaysia closed lower yesterday, ahead of holidays next week and weighed down by selected heavyweights and index-linked counters.
The FTSE Bursa Malaysia KLCI (FBM KLCI) closed 5.74 points lower at 1,802.57.
Market breadth was negative as losers led gainers 452 to 294, while 329 counters were unchanged, 502 untraded and 15 others suspended.
Volume was slightly higher at 1.586 billion shares worth RM2.097 billion, from 1.520 billion shares worth RM2.023 billion on Thursday.
Among the heavyweights, CIMB rose 10 sen to RM6.90, Axiata gained four sen to RM6.57, Maybank dropped 11 sen to RM9.65, TNB fell two sen to RM11.48 and Sime Darby declined eight sen to RM9.05.
On the scoreboard, the Plantation Index dropped 87.02 points to 8,496.18, the Industrial Index fell 15.80 points at 3,057.97 and the Finance Index lost 66.85 points to 16,412.09.
The FBM Emas Index erased 39.06 points to 12,468.36, FBMT100 Index slid 39.51 points to 12,181.28, the FBM 70 dipped 47.66 points to 13,826.37 but the FBM ACE added 71.76 points to 5,938.51.
Meanwhile, FBM KLCI futures contract on Bursa Malaysia Derivatives closed lower yesterday, tracking the bearish underlying cash market.
Spot month January 2014, February 2014 and June 2014 fell seven points each to 1,797, 1,796 and 1,793, respectively, while March 2014 eased 7.5 points to 1,795.5.
Turnover appreciated to 10,555 lots from 6,072 lots on Thursday, while open interest increased to 49,522 contracts from 43,813 contracts on Thursday.

In other markets:

* Bangkok added 0.48 per cent, or 6.29 points, to 1,314.63. Airports of Thailand jumped 4.78 per cent to 175.50 baht, while Siam Cement gained 1.46 per cent to 416.00 baht.

* Jakarta closed lower 1.31 per cent, or 58.70 points, to 4,437.34. Car producer Astra International lost 4.04 per cent to 6,525 rupiah, while cement maker Semen Indonesia fell 2.35 per cent to 14,550 rupiah.

* Mumbai fell 1.12 per cent, or 240.10 points, to close at 21,133.56. Drugmaker Ranbaxy Laboratories dropped 19.33 per cent, or 80.65 rupees, to 336.50 rupees after the US FDA suspended imports from the firm’s manufacturing plant in India.

* Taipei ended flat, edging up 3.21 points to 8,598.31. Hon Hai rose 1.31 per cent to T$85. while Taiwan Semiconductor Manufacturing Co was 0.47 per cent higher at T$108.

* Wellington fell 0.76 per cent, or 37.38 points, to 4,873.69. Telecom slipped 1.05 per cent to NZ$2.36, Fletcher Building eased 2.7 per cent to NZ$8.88 and Contact Energy was off 3.2 per cent at NZ$5.07.

* Manila rose 0.35 per cent to 6,191.50. BDO Unibank rose 2.19 per cent to 81.75 pesos while SM Prime Holdings gained 2.21 per cent to 14.80 pesos.

VIETNAM: Vietnamese stocks posted gain today with support from blue chips, BID ended slightly higher with heavy volume.
The benchmark VN Index rose 6.64 points or 1.19% to 560.19. Volume rose 19.4% to 88 million worth of VND1.573 trillion. Put-through trading contributed 2.5 million shares worth of VND62.14 billion.
We saw 1 million LSS shares changed hands at VND12,000 each.
The market breadth, was positive with 144 gainers, 70 losers and 76 unchanged.
The VN30 rose 1.29 points or 0.21% to 627.91. Among 30 constituents, 12 gained, 12 fell, 6 stood still.
Market opened in the green with 2.9 million shares changed hands. Trading was good with high liquidity, blue chips continued to rally. Investors eyed closely the performance of The JS Commercial Bank for Investment and Development of Vietnam (BID) which debuted on the bourse today. The market improved in the afternoon session and the index ended near the high.
The JS Commercial Bank for Investment and Development of Vietnam (BID)  was very active from the first trading session with 8.4 million shares traded. The price range was narrow from VND18,500 to VND19,500 versus reference price of VND18,700 while trading limits for the first trading session is +/-20%.
Other banking shares were weak, only MBB stood still while CTG, EIB, STB, VCB lost.
The top 5 market caps were strong in general,  GAS, MSN, VIC, VNM gained while VCB fell.
Securities shares were mixed big companies SSI, HCM posted strong gains while smaller players AGR stood still, BSI fell. SSI made a strong performance today with heavy trade of 4.5 million shares.
HPG fell for a third straight day with nearly 1 million shares traded. Share price has fallen 9% in the last 3 last days.
SJS continued to limit up with 0.25 million shares traded, demand at the ceiling level of 0.6 million left unfilled.
On the Hanoi Stock Exchange, the HNX gained 0.21 point or 0.29% to 73.66. Trading volume rose 10.6% to 34.8 million shares worth VND336.6 billion.
The breadth was positive with 132 gainers, 74 losers, 62 unchanged and the rest untraded.
The HNX30 added 0.18 point or 0.13% to 144.09.

EUROPE: Europe’s main stock markets slid further yesterday, still reeling from weak Chinese data, as traders kept an eye on the Davos gathering of political leaders, central bankers and chief executive officers.
London’s FTSE 100 index of top companies dropped 0.59 per cent to stand at 6,733.30 points in late morning deals. Frankfurt’s DAX 30 index slid 0.71 per cent to 9,562.57 points and Paris’ CAC 40 index dropped 0.92 per cent to 4,241.65 compared with Thursday’s closing levels.
Madrid’s IBEX 35 slumped 2.66 per cent and Milan’s MIB index shed 1.51 per cent.
“The UK continued its slide this morning, with the FTSE suffering an Asian hangover amid concerns about Chinese growth and a rout on emerging markets that continues to build up speed,” said Toby Morris, a trader at CMC Markets.

AMERICA: The U.S. stock market is swooning as investors fear slower global economic growth.

The Dow Jones industrial average dropped 318 points, nearly 2 percent, to close at 15,879 Friday, its worst drop since last June.

The Dow is down almost 500 points over the past two days as investors pull out of stocks and emerging markets and stash money in safer assets like bonds.

The Standard & Poor’s 500 index fell 38 points, or 2.1 percent, to 1,790. The Nasdaq composite fell 90 points, or 2.2 percent, to 4,128.

Small-company stocks fell even more than the rest of the market as investors shunned risk. The Russell 2000 plunged 28 points, or 2.4 percent, to 1,144.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.73 percent.

Benchmark Currency Rates

USD EUR JPY GBP CHF CAD AUD HKD

USD

1.3678 0.0098 1.6482 1.1178 0.9019 0.8683 0.1288

EUR

0.7312 0.0071 1.2050 0.8174 0.6595 0.6348 0.0942

JPY

102.3100 139.9800 168.6160 114.4280 92.2780 88.8250 13.1809

GBP

0.6067 0.8300 0.0059 0.6783 0.5472 0.5268 0.0782

CHF

0.8945 1.2235 0.0087 1.4742 0.8068 0.7767 0.1152

CAD

1.1088 1.5165 0.0108 1.8276 1.2395 0.9628 0.1428

AUD

1.1517 1.5753 0.0113 1.8981 1.2876 1.0387 0.1484

HKD

7.7627 10.6173 0.0759 12.7948 8.6798 7.0021 6.7398

Source: Bloomberg

 


Category: FinanceAsia

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